**State of Incorporation** means the state of organization of Lessee as identified in the heading of the Aircraft
Lease Agreement. 

  

 **State of Registry** has the meaning given in the
Aircraft Lease Agreement. 

  

 **Subsidiary means**: 

  




|  |  |
| --- | --- |
| (a) | in relation to any reference to financial statements, any Person whose financial statements are consolidated with the accounts of Lessee in accordance with GAAP; or
 |

  




|  |  |
| --- | --- |
| (b) | for any other purpose, an entity from time to time of which another has direct or indirect control or owns directly or indirectly more than fifty percent (50%) of the voting share
capital.  |

  

 **Supplemental Rent** has the meaning given in the
Aircraft Lease Agreement. 

  

 **Taxes** means any and all present and future
taxes, duties, withholdings, levies, assessments, imposts, fees and other governmental charges of all kinds (including without limitation any value added or similar tax and any stamp, documentary, license, registration or similar fees or tax),
imposed by a Government Entity, together with any penalties, fines, surcharges and interest thereon and any additions thereto. 

  

 **Tax Indemnitee** has the meaning given in the Aircraft Lease Agreement.